Canada Zinc adds additional mineral claims to Kechika Regional project

16 January 2014 (Last Updated January 16th, 2014 18:30)

Mineral explorer Canada Zinc Metals has added additional mineral claims to its fully-owned Kechika Regional project that extends north-west from the Akie property for about 140km covering the Gunsteel formation shale.

Mineral explorer Canada Zinc Metals has added additional mineral claims to its fully-owned Kechika Regional project that extends north-west from the Akie property for about 140km covering the Gunsteel formation shale.

Yuen North measures about 2,687ha and extends over an inferred western panel of Gunsteel formation shale by a strike length of about 5km.

"The new Yuen North property provides coverage of the western panel of interpreted Gunsteel shale and even better positions us to find new mineral discoveries."

The new property, including the Cirque East and Pie properties, are the subject of an option deal signed with Teck Resources and Korea Zinc that allows both the firms to spend up to $8.5m to buy up to a 70% stake in the properties.

The Yuen North area, which is not part of the option deal, was flown this summer by the company as part of its 2013 VTEM Airborne Geophysical Survey.

Since 2005, Canada Zinc has found a significant body of baritic-zinc-lead SEDEX mineralisation known as the Cardiac Creek deposit, while drilling on its flagship exploration project, the Akie Property.

Canada Zinc Metals president and CEO Peeyush Varshney said that the Yuen North property is a natural addition to the company's Kechika Regional project.

"We see favorable geology and positive historical geochemical survey results coupled with conductive trends from the current VTEM geophysical survey data, similar to our Cardiac Creek zone on the Akie property," Varshney said.

"With over 23km² of mineral claims, the new Yuen North property provides coverage of the western panel of interpreted Gunsteel shale and even better positions us to find new mineral discoveries."

Last year Canada Zinc conducted a reconnaissance hydrogeochemistry survey on parts of Yuen North to infill sample gaps between Mt. Alcock and Yuen.

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